Samsung Heavy Industries receives 2 trillion won worth of orders… close to super cycle by achieving 11.6 trillion won

기사입력 : 2021-10-19 09:21

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Samsung Heavy Industries surpassed $10 billion in cumulative orders this year.

Samsung Heavy Industries issued a statement and announced on the 18th that it has signed contracts to design and supply blocks and equipment for seven shuttle tankers with a Eurasian shipper for $1.7 billion (about 2.453 trillion won).

Samsung Heavy Industries has attracted 13 LNG carriers, 44 container vessels, and 14 crude carriers this year. As a result, Samsung Heavy Industries has posted total $10.3 billion orders for 71 ships, achieving more than 13% than target of $9.1 billion, which was revised up from $7.8 billion in May.

The surpassing $10 billion in orders in the shipbuilding business is the second time since $12.6 billion in 2007, the peak of the shipbuilding super cycle, and it is considered as a positive signal of a recovery in the shipbuilding industry.

According to the report on shipbuilding market report outlook by Clarksons Research last month, as demand for eco-friendly ships and expansion of old ship replacement has been increasing, it is expected that the annual average ship orders will be doubled compared to last year to 1,900 ships between 2023 and 2031 and the positive shipbuilding market trend will continue for a long time.

“As carbon reduction regulations are tightened, orders for high-efficient eco-friendly ships are increasing,” an official from Samsung Heavy Industries said. “We are planning to further expand high-quality orders this year.”

Samsung Heavy Industries has maintained the worlds’ No.1 in the global order book with its strong increase in orders for seven consecutive months for a single shipyard.


By Global Economic Reporter Ji-wan Nam ; translate by Gounee Yang